What have we done to deserve these fine people? Base truth – much oil and gas won’t be needed, we’ll literally have this flammable stuff forever floating beneath our planet’s surface. And if you’re a country who has figured out how to feed, clothe and educate your people without further oil money – we thank you Prime Minister Jacinda Ahern for limiting your financial well being for the rest of us.
SOURCE: The center-left Labour-led government said the move would not affect the country’s 22 existing exploration permits, and any oil and gas discoveries from firms holding those licenses could still lead to mining permits of up to 40 years. Interest in oil exploration in New Zealand has waned in recent years due to lower global oil prices, with only one permit issued in 2017, compared with 10 in 2014. However, business and regional leaders said they had been blindsided by the move and feared the government was risking jobs in the NZ$2.5 billion ($1.8 billion) oil and gas industry. The oil and gas industry accounts for only about 1.4 percent of New Zealand’s economy.